MicroStrategy buys the Bitcoin dip worth $10 million – 22 January 2021

MicroStrategy buys the Bitcoin dip worth $10 million - 22 January 2021

18:18

MicroStrategy buys the Bitcoin dip worth $10 million

As of 22 January 2021, publicly-traded company, MicroStrategy increased its Bitcoin holding by making an additional purchase of the asset. According to its latest announcement, MicroStrategy acquired  $10 million worth of Bitcoin, paying roughly $31,808 per coin on average.

The firm managed to gain from its earlier holdings during bull market conditions. At the very beginning of the rally when Bitcoin was nearing $13,000, MicroStrategy reportedly earned $100 million in two months, from their Bitcoin purchases. Moreover, the firm’s primary treasury reserve asset had “increased the overall visibility” of the company in the market, MicroStrategy’s CEO Michael Saylor said. 

Overall, the business intelligence firm owns 70,784 coins that are worth over $1.13 billion, in its treasury reserve. This makes it the largest holder of the asset in a list of other corporations that invested in BTC, according to Bitcoin Treasuries.

Sourse: ambcrypto.com

Start mining bitcoin now

Start trading bitcoin now

Source: www.btc-mania.com

Author: Added by: danyagames2007


Miami Mayor Is Creating His Own Cryptocurrency Team: Report

Miami Mayor Is Creating His Own Cryptocurrency Team: Report

January 22, 2021

analysts fear another, bitcoin, btc, price

The Miami Mayor is creating his own cryptocurrency team, revealing a few details on the city’s plans with major announcements coming next week so let’s find out more in today’s cryptocurrency news.

The Miami Mayor Is creating his own crypto team and he has been open to cryptocurrency while aiming to make the city the most competitive crypto city in the world. He spoke with Anthony Pompliano in the past and the Winklevoss brothers about it but now it seems he will start working on it.  The major, Francis Suarez said that he is building out a team to help develop his plans for getting more involved in crypto with even more announcements prepared for next week.

Retweet this if you would move to Miami if Mayor @FrancisSuarez put 1% of the city’s treasury reserves in Bitcoin.

— Pomp 🌪 (@APompliano) December 29, 2020

Speaking in an interview, he was asked whether he considered investing in ETH instead of BTC given the idea that he could create applications to collect taxes on the blockchain platform straight ahead:

 “We’d love to do that. What we’re looking at is two things. One is to accept crypto for payments, and there’s a process, right. We probably won’t hold Bitcoin or any cryptocurrencies. We’ll probably have a third party hold it and take the cryptocurrency—in the extent there is some volatility. We’d love to explore the platform, I’m building out my team, that’s starting on Monday, I’m going to be making some major announcements next week.”

The Mayor shared some thoughts on crypto and argued that money can be anything that the society considers to have value:

 “Anything can be money—anything can have value. What has value is what we, as a society, value.”

He also believes that the digital revolution of money is preparing and said that in many ways, we are already in a digital money market. He suggests that BTC is the right alternative that affords people a new sense of freedom as opposed to the fiat currencies that are connected to government policies:

 “Money and currency is being used to promote policies. We have a market crash, so we have to influence the behaviour of people through the money supply.”

Suarez was showing some serious interest in BTC over the past few weeks, suggesting the cryptocurrency will put some of Miami’s treasury reserves in BTC. Suarez discussed the future of the crypto industry with the Winklevoss twins and said that his mission to make Miami the most competitive crypto city on the planet is underway. Tyler Winklevoss said:

 “There’s a lot of people who live in Miami who might have family who live elsewhere in other countries—they pay tremendous fees just to move that money. Cryptocurrency is like sending money the same way you send an email.”

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: bitcoin-core-news.com

Author: by admin


Deutsche Bank Survey – Bitcoin News

Deutsche Bank Survey – Bitcoin News

Deutsche Bank has conducted a survey about financial bubbles. Eighty-nine percent of respondents see some bubbles in financial markets, with bitcoin near the “extreme bubble” territory. However, more respondents expect the cryptocurrency to double than they do Tesla’s stock.

A survey published Tuesday by Deutsche Bank asked 627 market professionals to rate on a scale of zero to 10 how they see financial bubbles in a range of assets. According to CNBC, the survey was conducted between Jan. 13 and Jan. 15. The bank found that 89% of survey respondents currently see some bubbles in financial markets.

Bitcoin is the closest to the “extreme bubble” territory, followed by U.S. tech equities, and European government bonds, according to the respondents. In addition, they see less of a bubble in European equities, Asian equities, and non-tech U.S. equities.

The price of bitcoin has risen about 66% since the beginning of December and about 9% since the beginning of the year. Bitcoin’s price reached an all-time high above $41K on Jan. 8. It has since retreated and stands at $32,475 at the time of writing, based on data by markets.Bitcoin.com.

The Deutsche Bank survey also compares bitcoin to Tesla’s stock, which has also seen huge gains over the recent months. Tesla’s stock is up 44.5% since the beginning of December and almost 16% since the beginning of January. Deutsche Bank strategist Jim Reid, along with research analysts Karthik Nagalingam and Henry Allen, explained:

When asked specifically about the 12-month fate of bitcoin and Tesla — a stock emblematic of a potential tech bubble — a majority of readers think that they are more likely to halve than double from these levels with Tesla more vulnerable according to readers.

What future awaits cryptocurrencies?
GOODBAD

When comparing Tesla’s stock to bitcoin, however, more respondents believe that bitcoin is more likely to double than Tesla and less likely to halve.

The Deutsche Bank survey also asked respondents about the Federal Reserve tapering its asset purchasing program as a potential factor that will pop the bubble. “71% of respondents do not believe that the Fed will taper before year-end, which is in line with what Fed governors had been saying forcefully by the end of last week,” the Deutsche Bank analysts conveyed. They noted that “a quarter of readers may think that economic growth/markets could force their hand.”

What do you think about Deutsche Bank’s findings? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Source: bitcoin-core-news.com

Author: by admin


Demand for Bitcoin Miners Pressures Chip Makers Amid Global Shortage - 22 January 2021

Demand for Bitcoin Miners Pressures Chip Makers Amid Global Shortage – 22 January 2021

18:10

Demand for Bitcoin Miners Pressures Chip Makers Amid Global Shortage

Unexpected demand for automobiles at a time of high consumer electronics sales is raising prices and leaving manufacturers without components.

Mining hardware is sold out at leading companies like Bitmain, forcing miners to scour the second-hand market. The rising cost of mining units is pricing all but the wealthiest out.

Mining hardware is in high demand following bitcoin’s recent price increases. As BeInCrypto reported, major US mining operations have recently been ordering huge volumes of hardware from leading manufacturers like Bitmain.

Cited by Reuters, Lei Tong of Babel Finance, which lends money to miners, commented:

Chip demand from other industries is putting additional pressure on manufacturers. A return of social restriction measures is largely behind this demand, as consumers prepare for yet more screen time.

Simultaneously, the automotive industry, which is experiencing an unexpected recovery, also demands chips. As DW reported, Chinese car sales slumped by around 80% in February last year. But rising demand at the end of 2020 ensured the sector only fell by 6.8% versus the previous year.

A spokesperson for Continental explained:

They state that a lead time of six to nine months in chip manufacturing had created the current bottleneck. Profit margins on consumer electronics tend to be greater, thus, manufacturers prefer to supply the industry first.

Bitcoin’s rise above $30,000 has significantly increased mining profitability. When mining profit margins are low, electricity costs are more significant in determining overall profitability. With electricity prices becoming negligible, mining is rapidly expanding into North America and the Middle East.

Wayne Zhao, COO of TokenInsight, explains:

However, global chip shortages are starting to price out all but the wealthiest miners. Raymond Yuan, the founder of one of China’s largest mining companies, Atlas Mining, explained that non-institutional miners ‘will be weeded out.’

All Antminer S19s and Antminer T19s are currently sold out at Bitmain. Accordingly, prices on the second-hand market have risen by 50% to 60% over the course of 2020.

Meanwhile, new equipment prices have more than doubled. At the time of writing, the asking price for a standard Antminer S19 on a European distribution site is around $7,200. When in stock, Bitmain typically sells the model for $2,767.

Despite mining shortages, the Bitcoin hash rate set a new all-time high just days ago. BeInCrypto reported the hash rate’s continued rise, even amid a 25% price correction from the recently-established high near $42,000.

Hardware shortages and price corrections don’t appear to be having a significant impact on enthusiasm for BTC mining. Yuan, for example, told Reuters he plans to continue investing heavily.

Sourse: beincrypto.com

Start mining bitcoin now

Start trading bitcoin now

Source: www.btc-mania.com

Author: Added by: danyagames2007


Polkadot Gains Momentum Despite BTC And ETH Drops

Polkadot Gains Momentum Despite BTC And ETH Drops

January 22, 2021January 22, 2021

dot usd polkadot price

The altcoin news today show us that Bitcoin (BTC) and Ethereum (ETH) are not taking the entire market down. Despite their drop, Polkadot gains momentum and rallies as we speak. The DOT update today shows that this cryptocurrency rallied above $12 and $15 before facing some selling pressure near $18.50.

It all started when DOT closed the $12 level, initiating a new rally above the $15 resistance level. The bullish momentum above $15 allowed the price to surge even higher and come close to $18 and even $19. However, the Polkadot gains stopped there and DOT failed to cross the $20 level.

With a high formed near $18.37 as the coin was trying to reach $19, Polkadot broke below the $16.50 support level, but the bulls reignited the fire and were present near the $15 and $14.80 support levels which acted as a multi-touch zone.

While the Polkadot gains were impressive, they stopped before reaching $19 and $20. Still, there has been a bullish trend line forming with support near $15.50 on the 4-hour chart in the DOT/USD pair. Currently, the price of Polkadot (DOT) is at $16.44 and despite the drop of less than 2% today, it managed to add more than 15% to its value over the past seven days.

As Polkadot gains momentum, DOT can continue trading high above $17 and $18, but the possibility of a decline is also present. The first key support is near the $15.50 level and the trend line, while a successful break below this trend line could also position DOT near $15, which would create a risk of more losses.

All of this proves that Polkadot (DOT) is another coin worth watching, and not necessarily a top coin that many would invest in. However, its technology surrounded by the buzz in the cryptocurrency news might bring it to new heights soon.

For those of you who don’t know, the DOT token was created for staking and bonding, governance, and giving people full control over their holdings. The software seeks to incentivize a global network of computers and operate a blockchain on top of which users can launch and operate their own blockchains.

The technical indicators for the DOT price now are as following:

  • 4-Hours MACD – The MACD for DOT/USD is now pushing to gain momentum in the bullish zone.
  • 4-Hours RSI (Relative Strength Index) – The RSI for DOT/USD is currently above the 50 level.
  • Major Support Levels – $15.50, $15.00 and $14.80.
  • Major Resistance Levels – $16.50, $17.20 and $18.50.
  • DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

    Source Link

    Source: bitcoin-core-news.com

    Author: by admin


    Stop the Fixation With Bitcoin and Invest in Ethereum

    Stop the Fixation With Bitcoin and Invest in Ethereum

    The recent surge in popular cryptocurrency Bitcoin (CCC:BTC-USD) has sparked an increase in other cryptocurrencies’ prices. Right now, Ethereum’s (CCC:ETH-USD) Ether is the second most valuable altcoin and is up roughly 100% in the past month.

    A stack of ether or ethereum coins on a gold background.

    As such, institutional investors should start looking at Ethereum with similar engrossment as they do Bitcoin — the cryptocurrency should grow substantially following a constriction in supply as well as with the release of its new and improved platform.

    While Bitcoin is just digital money, Ethereum is essentially a programmable “smart contract” platform. The Bitcoin blockchain facilitates the storage, validation and replication of transactional data. But the Ethereum platform is unique as it allows its users to run computer code, termed as smart contracts. These contracts are useful for more or less any financial transaction. Hence, ETH eliminates the need for a middleman or intermediary in financial transactions, potentially disrupting several industries.

    That’s why an increasing amount of Ether — Ethereum’s digital currency — is being locked up. Savvy investors should be interested. That supply reduction will push up its value soon.

    Future growth in the value of Ether currency is a simple matter of supply and demand. A set amount of the coin is put in each year with no hard cap on its issuance. The currency’s growth rate is therefore virtually at 0%. In the next few years, the issuance rate is likely to be even lower than Bitcoin.

    There are two main factors for the constriction in supply. Firstly, the popularity of decentralized financial apps is rising. Therefore, more Ether is getting locked up for smart contract usage. The new Ethereum platform called “Ethereum 2.0 ” will require its users to lock-up a certain amount of Ether as collateral.

    Another element of the Ethereum 2.0 implementation is that it will lead to an increase in the platform’s network value. The new platform will have fewer scalability troubles, a more extensive feature set and will abandon the need for proof of work. Staking will also allow users to earn returns from holding coins, similar to bank deposits. Moreover, it also enables the currency to become a carry asset, supporting its function as a value store.

    What does that mean? Well, institutional investors would be more interested in holding a fair bit of their portfolios in Ether. The cryptocurrency will also complement cash and securities for investors.

    However, one of the biggest edges that Ethereum has over its competitors is its agreement network that has become a hit in the decentralized finance industry. There are already major brands developing their projects on the Ethereum platform and more companies should follow suit, starting their blockchain efforts on 2.0.

    Ethereum has undergone a few minor upgrades in the past few years. But, now it’s undergoing its most significant upgrade yet. Ethereum 2.0 is based on a proof of stake system and relies on users posting collateral rather than performing complex calculations. It is also more secure and decentralized. And perhaps most crucially, its scalable.

    So, Ethereum is a unique and powerful platform that is tailormade for a variety of financial projects. What’s more, the rollout of its latest update will offer greater flexibility, scalability and a more comprehensive range of options to its users.

    As such, the value of Ether cryptocurrency will continue to rise due to the constriction in supply from staking and the expected increase in demand. Therefore, investors should stop with the Bitcoin fixation and look at Ethereum. It is an incredibly viable alternative.

    On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article

    Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.

    Source: investorplace.com

    Author: By

    Muslim Farooque


    MicroStrategy buys the Bitcoin dip worth $10 million - 22 January 2021

    Previous
    Bitcoin newsThe Bitcoin Double-Spend That Never Happened
    Next
    Bitcoin newsShould I Buy Bitcoin? — Switzerland’s Largest Bank UBS Provides Guidance on BTC Investing – Markets and Prices Bitcoin News
    Did the article help? Rate it
    1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
    Loading...
    Add comment

    Get Awesome Reviews

    Coins, exchanges, wallets, crypto games, crypto cards.
    Search for reviews and share your own experience.

    GO TO REVAIN